JB Financial Selected as MyData Demonstration Service Provider

[Asia Economy Reporter Kim Min-young] JB Financial Group announced on the 22nd that it has been selected as a financial sector operator for the '2020 MyData Demonstration Service Support Project' by the Ministry of Science and ICT.

The MyData project recognizes individuals' data sovereignty, allowing them to provide data related to themselves voluntarily, and companies use this data to develop products, policies, and more.

Since March, the Ministry of Science and ICT has been soliciting demonstration service projects and recently selected eight projects across six fields: medical, financial, public, transportation, daily life, and small business.

JB Financial's affiliates Jeonbuk Bank, Gwangju Bank, and JB Woori Capital formed a consortium with Fintech Co., Ltd., SK Telecom, SK Energy, and SK Networks, and were selected as demonstration service operators in the field of credit evaluation and financial product development using mobility data.

Through this demonstration service project, JB Financial plans to provide personalized financial services by utilizing mobility data such as driving information, vehicle information, fueling information, and vehicle maintenance information held by individuals.

A JB Financial official stated, "We will regularly discover businesses utilizing personal data through partnerships across different industries and develop differentiated financial services," adding, "In particular, we will take the lead in creating a customer-centered financial environment by expanding services through the MyData industry, which will be implemented in August."

This content was produced with the assistance of AI translation services.